Is King Out? Holy Toledo! : Raiders: New owners of radio rights make longtime voice of the team an offer, which he has rejected.

Bill King, one of the Raiders’ last links to their days in Oakland, might not be returning as the team’s play-by-play announcer.

Nederlander Sports Marketing, which recently acquired the Raiders’ radio rights, offered King, who has been with the team since 1966, a salary of about $50,000, which, a source said, is less than half of what he made last season. King rejected the offer.

“I really don’t want to say much about it,” King said Thursday night. “I’d sure like to come back. I think Rich (Marotta) and I have something special, and I’d hate to see that end.”

King’s attorney, Hugh Lawrence of Sausalito, said Nederlander’s offer was rejected because it barely met “entry level” standards. “We have told them Bill is not willing to take a pay cut,” Lawrence said.

Roger Blaemire, the president of the Nederlander Sports Marketing, said a tentative agreement was reached Thursday with KFI to continue carrying the Raiders. But Blaemire, who said the KFI deal will not be finalized until next week, declined to comment on the King negotiations.

Lawrence said Blaemire intially said there would be no further offers, but later said he would get back to him on Monday.

If King does not return, one possibility is that Marotta, KFI’s sports director and the Raider radio commentator since the team moved to Los Angeles in 1982, will switch over to play-by-play and work with Jim Plunkett, who apparently has the commentating job wrapped up.

Joel Meyers, now doing baseball for ESPN, is also a candidate for the play-by-play job.

King, who has been with the Raiders for 27 seasons, also has been the radio voice of the Oakland Athletics since 1981. He lives in the Bay Area and is currently on the road with the A’s. He was in Milwaukee on Thursday.

Nederlander Sports Marketing is part of the Nederlander Organization, a business run primarily from New York and Detroit. It owns or leases about 30 theaters and concert venues across the country and in London.

The Nederlander Organization also has a minority interest in the New York Yankees, and Robert Nederlander ran the team during George Steinbrenner’s suspension.

Nederlander Sports Marketing, a source said, will pay a little less than $2 million per year for the Raider radio rights.

According to Blaemire, who owns two radio stations and part of a television station in Santa Maria and is a former vice president with the Golden State Warriors, Cincinnati Reds and Indiana Pacers, Nederlander has been seeking the Raider radio rights for the past year and a half. A deal was completed last week.

The rights previously belonged to Bob Speck Productions, which held them since the Raiders moved to Los Angeles and shared them with KFI the past five seasons.